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Jul 26, 2011
07/11
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and this going on in washington is a big part of the reason why. before i served in congress i ran a small business in ohio. i was amazed at how different washington d.c. operated than every other business in america. where most american businesses make the hard choices to pay their bills, live within their means. in washington, more spending and more debt is business as usual. well, i've got news for washington, those days are over. president obama came to congress in january and requested businesses as usual. he had ner routine increase in the national debt, but we in the house said not so fast. here was a president asking for the largest debt increase in american history on the heels of the largest spending binge in american history. and here's what we got for that massive spending binge. a new health-care bill that most americans never asked for. a stimulus bill that's more effective in producing material for late night comedians than it was in producing jobs. and a national debt that has gotten so out of hand it sparked a crisis without preced
and this going on in washington is a big part of the reason why. before i served in congress i ran a small business in ohio. i was amazed at how different washington d.c. operated than every other business in america. where most american businesses make the hard choices to pay their bills, live within their means. in washington, more spending and more debt is business as usual. well, i've got news for washington, those days are over. president obama came to congress in january and requested...
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Jul 27, 2011
07/11
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KRCB
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that's the big question. but you askd probably the most the smartest question which is even if that's the case, even if we get downgraded, will people stop buying treasurys? on a relative basis, we may still look like not a bad debt at least. >> but the problem in that scenario is that the cost to the government of getting money, of the price you have to pay in interest to get the money that you need will go up. if we're talking about a problem that is rooted in a deficit, a federal deficit that has grown dramatically in the last few years, you're now going to make that worse by making borrowing costs for the government higher. the irony is if the net result of trying to deal with the deficit will be to make borrowing costs higher so that the deficit becomes bigger rather than smaller over time, everybody will have shot themselves in the foot. >> starting with you, jerry, do you see much going on behind the scenes, contingency plans, you know, what-ifs? especially here in washington? you start with washington
that's the big question. but you askd probably the most the smartest question which is even if that's the case, even if we get downgraded, will people stop buying treasurys? on a relative basis, we may still look like not a bad debt at least. >> but the problem in that scenario is that the cost to the government of getting money, of the price you have to pay in interest to get the money that you need will go up. if we're talking about a problem that is rooted in a deficit, a federal...
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Jul 21, 2011
07/11
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the company became a pioneer of the big-box bookseller concept. at its peak in 2003, borders had more than 1,200 stores around the country, each with thousands of new titles. the company says a host of factors led to its demise, including the turbulent economy; the move away from brick and mortar stores to online retailers and the rise of e- readers, like the kindle, ipad, and nook. more on this story now from annie lowery, who's followed it as a business writer for the online magazine "slate." welcome to you. >> thank you. >> brown: now part of this is, of course, about larger trends of the internet's impact on the book business. but borders also made its own mistakes, i guess, along the way. >> absolutely. >> brown: what happened? >> it's not an easy climate for any retail business or for anybody selling books, obviously. but borders made some strategic mistakes. first and foremost they had a very, very tennuous relationship with the internet. they actually outsourced the sale of a lot of their books on-line from 2001 to 2008 to amazon. and on t
the company became a pioneer of the big-box bookseller concept. at its peak in 2003, borders had more than 1,200 stores around the country, each with thousands of new titles. the company says a host of factors led to its demise, including the turbulent economy; the move away from brick and mortar stores to online retailers and the rise of e- readers, like the kindle, ipad, and nook. more on this story now from annie lowery, who's followed it as a business writer for the online magazine...
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Jul 28, 2011
07/11
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workers, 600,000 of the big three. in 2004 it was 230,000, to today it's 111,00. they've suffered enormous reductions and hundreds of thousands of workers have taken buyouts in the last few years. so the companies are bringing more cars online. they can use... they can dangle more jobs and more products and more employment to the u.a.w. as a concession because they don't want to increase their hourly wage rate because they're still paying more on average than their foreign competitors. >> brown: but for the union it's in a sense fighting for some relevancy here, i guess, right? >> well, survival basically. there's two things the union needs to do. they need to get a contract that their members will accept. they also have to send a message to the foreign companies. they have been trying desperately to organize the transplants. toyota, honda, nissan, and, frankly, they've had no success. and they've tried this for decades and the new waub president bob king has made this a goal. if they don't organize the transplants they are forever going to be sort of sliding down
workers, 600,000 of the big three. in 2004 it was 230,000, to today it's 111,00. they've suffered enormous reductions and hundreds of thousands of workers have taken buyouts in the last few years. so the companies are bringing more cars online. they can use... they can dangle more jobs and more products and more employment to the u.a.w. as a concession because they don't want to increase their hourly wage rate because they're still paying more on average than their foreign competitors. >>...
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Jul 22, 2011
07/11
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WETA
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so i think the president took a big risk. maybe we will see his tone as he is giving it to them, angry, treating them like children. but a lot of people will take a look at it and say there's some arrogance and self-superiority there. >> rooney: . >> lehrer: well, it's 6:36 as we're speaking eastern time and the president's still speaking. in the white house briefing room. but he says, mark, that he's going to-- he called the bipartisan congressional leadership to the white house tomorrow, saturday for a meeting. but boehner says he's not negotiating, what's going on? that's what i am trying to get. we don't know. >> well, john boehner said he himself was going to now negotiate with the leaders of the senate. and to try and come up with something. that was in his statement. so but the president did say, not to come from me, he said be at the white house tomorrow morning at 11:00 and come up with a solution. it's up to you. i know the best of my knowledge harry reid and mitch mcconnell and nancy pelosi have not been-- or citiz
so i think the president took a big risk. maybe we will see his tone as he is giving it to them, angry, treating them like children. but a lot of people will take a look at it and say there's some arrogance and self-superiority there. >> rooney: . >> lehrer: well, it's 6:36 as we're speaking eastern time and the president's still speaking. in the white house briefing room. but he says, mark, that he's going to-- he called the bipartisan congressional leadership to the white house...
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Jul 29, 2011
07/11
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. >> that money could make a big difference to a lot of people. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy productive life. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: it was decision day in the house of representatives today as speaker john boehner faced a key test of his leadership, four days before the u.s. government could face default. "newshour" congressional correspondent kwame holman begins our coverage. >> reporter: house republicans pushed forward with a vote today on the speaker's plan, even as the measure faced a white house veto threat and a firm wall of opposition in the democratic- controlled senate. boehner's plan would cut the deficit by $917 billion over the next decade by capping the budgets of federal agencies. the proposal would also raise the debt ceiling by $900 billion enough to allow the g
. >> that money could make a big difference to a lot of people. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy productive life. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: it was decision day in the house of...
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Jul 1, 2011
07/11
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>> well, i think it's a cautionary tale for the big media companies and the big tech companies who perhaps wish to acquire a lot of these companies. they're a lot harder to monetize than you think. and this is a business that moves very fast. and when you look at something like myspace, when it first sold to newscorp in 2005, there was much excitement about the fact it had the most users and it was the biggest. but we saw facebook, at that time very fine-- tiny, compute better and fast or the business. myspace lost because newscorp failed to execute, in my opinion and because they didn't focus on the technology at the time and their competitors did. i think that's a danger for any business in any industry. i don't think it necessarily is a suggestion that we're going to see the explosion of a number of healthy-- potentially healthy business in this field. >> suarez: and, josh, when we talk about myspace, we're looking at, as jessi mentioned, a company that was a leader in its field. so as they always say in the financial services commercials-- past performance is no prediction of future va
>> well, i think it's a cautionary tale for the big media companies and the big tech companies who perhaps wish to acquire a lot of these companies. they're a lot harder to monetize than you think. and this is a business that moves very fast. and when you look at something like myspace, when it first sold to newscorp in 2005, there was much excitement about the fact it had the most users and it was the biggest. but we saw facebook, at that time very fine-- tiny, compute better and fast or...
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Jul 16, 2011
07/11
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. >> what i've tried to emphasize is we have a unique opportunity to do something big. >> suarez: but after five straight days of talks with congressional leaders, president obama conceded today something big remains elusive. >> we are obviously running out of time. and so what i've said to the members of congress is that you need, over the next 24 to 36 hours, to give me some sense of what your plan is to get the debt ceiling raised through if they show me a serious plan, i'm ready to move, even if it requires some tough decisions on my part. >> suarez: the president had previously insisted on extending the debt ceiling through 2012 past next year's election. but after thursday's talks, he settled for asking congressional leaders to review three options with their members. the first-- the so-called "grand bargain" that mr. obama favors-- would cut deficits by about $4 trillion dollars, including spending cuts and new tax revenues. a medium-range plan would aim to reduce the deficit by about half that amount. the smallest option would cut between $1 trillion and $1.5 trillion dollars
. >> what i've tried to emphasize is we have a unique opportunity to do something big. >> suarez: but after five straight days of talks with congressional leaders, president obama conceded today something big remains elusive. >> we are obviously running out of time. and so what i've said to the members of congress is that you need, over the next 24 to 36 hours, to give me some sense of what your plan is to get the debt ceiling raised through if they show me a serious plan, i'm...
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Jul 11, 2011
07/11
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WMPT
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i would say the question is big question marks on both cases. the fact of the matter is the money which should have been appropriateed initially when george w bush announced the cancellation of the shuttle program never materialized. and so the program that he envisioned which would have sent astronauts back to the moon and ultimately beyond to mars, never took hold. so obama reversed course. and now we're in a situation where there is no specific date, no specific destination, just embracing some technologies that will allow nasa to push beyond low earth orbit. will there be funding for that? will there be the political will and leadership to follow through? those are big questions. >> dr. jemison, did nasa make, short term, the right choices. don't head off on something until you know where you are headed? >> well, i don't think it's an issue of don't hid off. i think the issue is reallies what con tell says is going somewhere -- con tell says is going somewhere and was it worth waiting until 2028 to get rid of the space station and shuttle pr
i would say the question is big question marks on both cases. the fact of the matter is the money which should have been appropriateed initially when george w bush announced the cancellation of the shuttle program never materialized. and so the program that he envisioned which would have sent astronauts back to the moon and ultimately beyond to mars, never took hold. so obama reversed course. and now we're in a situation where there is no specific date, no specific destination, just embracing...
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Jul 29, 2011
07/11
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there are big issues here. defense spending issues going to be very large, i think, for mcconnell because the reid approach had some serious cuts in defense spending. and then, you know,-- but mcconnell's already proposed some ideas that are likely to be incorporated in the reid-- in the reid bill that will allow the president to do a kind of second charge of increases in the debt limit without congress having much of an influence over it. congress would have to vote against it. so i think that the elements of a beale are here. you know, the problem from my perspective is, this is the easy stuff because it doesn't deal with tax,because it doesn't deal with entitlement. the question is, it doesn't even solve the deficit problem but it's been such a problem just to get the easy-- the question is that the rating agencies, the credit rating agencies and others, can can can they do the harder stuff right down the road? that, i think, is the real difficulty. >> one thing that hasn't been addressed, jim, and republica
there are big issues here. defense spending issues going to be very large, i think, for mcconnell because the reid approach had some serious cuts in defense spending. and then, you know,-- but mcconnell's already proposed some ideas that are likely to be incorporated in the reid-- in the reid bill that will allow the president to do a kind of second charge of increases in the debt limit without congress having much of an influence over it. congress would have to vote against it. so i think that...
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Jul 8, 2011
07/11
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and of course in whole region is, there is a huge ripple effect because this is obviously a big jobs generator, the place they call the space coast. but in particular today i spent some time talking with travis thompson who has spent 33 years here at the kennedy space center working on the shuttle program. he is the lead technician on the clogout crew, the guys who button them up, the astronauts, strap them in, shut the door and send them off to space. he and his team, it was a very emotional day for them. as they were finishing up their job they had put together a series of cards with messages talking about their appreciation for the program, their patted rotism and frankly -- patriotism and their sadness, and the final word was god bless america, held by travis thompson himself. this is travis thompson's last day on the job, after 100 shuttle missions, getting the crews strapped in and ready to go to space, tomorrow he has no job. where he is going to go to work. as he said, my job is putting human beings in spacecraft to go to space. i don't see a lot of prospects for doing that s
and of course in whole region is, there is a huge ripple effect because this is obviously a big jobs generator, the place they call the space coast. but in particular today i spent some time talking with travis thompson who has spent 33 years here at the kennedy space center working on the shuttle program. he is the lead technician on the clogout crew, the guys who button them up, the astronauts, strap them in, shut the door and send them off to space. he and his team, it was a very emotional...